We need to do something about all the scams - page 3.

gabmen

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Quote from: futile-resistance on February 15, 2018, 05:30:31 AM

Quote from: alyssaxx on February 11, 2018, 08:40:47 PM

Hopefully those scammers will be banned forever and they will be detected so that we can work at peace without thinking that our hard earned will go to those scammers, who are not doing a legit job in order to gain money. Be observant and be alert everytime.

One thing for sure is that you can’t stop scammers, no matter how you try. It’s just like when you’re trying to stop the corruption in the world today, which is impossible. So it’s not possible. The only way to stop scam is by those who fell victims to be posting lists of sites where they were scammed. So you see, people have to get scammed to be able to fish out the scam sites. Best thing is just to invest only in sites with good reputation.

Well scammers have evolved as well becoming more and more creative to attract victims and take their money. And i agree, it would be very hard for the authorities to keep scammers in check because they have new moduses everytime. Keeping the people informed probably would be the best solution to this. However there are times when logic and reason goes out the window when people hear about easy, quick money

futile-resistance

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Quote from: alyssaxx on February 11, 2018, 08:40:47 PM

Hopefully those scammers will be banned forever and they will be detected so that we can work at peace without thinking that our hard earned will go to those scammers, who are not doing a legit job in order to gain money. Be observant and be alert everytime.

One thing for sure is that you can’t stop scammers, no matter how you try. It’s just like when you’re trying to stop the corruption in the world today, which is impossible. So it’s not possible. The only way to stop scam is by those who fell victims to be posting lists of sites where they were scammed. So you see, people have to get scammed to be able to fish out the scam sites. Best thing is just to invest only in sites with good reputation.

VladWulf

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Just look at this

https://thenextweb.com/hardfork/2018/02/12/cryptocurrency-loopx-scam-ico/

JCLee

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Thank you for bringing valuable information to everyone against the scam ICO are launched in the market recently. ICOs launch for different purposes, many investors do not care about the goal of the project but only see the promise of profit after the ICO despite the investment and risk to myself. It is therefore essential for the community to be able to identify the most potent ICOs before making an investment decision.

decoder88

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Quote from: Tigerheart3026 on February 09, 2018, 05:06:52 PM

Quote from: VladWulf on February 06, 2018, 12:23:52 PM

Hey there,

I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances.
What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity (https://www.youtube.com/watch?v=p1ZYGuJXBQE)

The reasons why we have to fight scams are fairly simple:
- Scams attract regulators
- More scams attract more scammers
- People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money.
- You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS.

I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams:

* EQUI https://bitcointalksearch.org/topic/annequi-bridging-crypto-with-traditional-venture-capital-presale-0103-2888110
The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

I do agreed that scams attract more Scammer, it is because the more they scams appeared or spread out in every places the scammer become more strong. The more victims they have is the more scammer became strong intention to scam others. So this was a good step and good starting to sue them also. And this can't be resolve without the support of the community too.

Scammers are also a way to make new scammers, they easily spread through their kind. And if they have made people believe within their lies they would think that they could do it again and scam again other people. What you have done is right and a good thing. And remember to always be alert in everthing and observe.

a7goo

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Free Crypto in Stake.com Telegram t.me/StakeCasino

In my opinion it is very difficult .... even impossible to know if a project is scam or not. To say such a thing, we would have to collect many texts of users from the network. Think about the statistics ..... only a majority of positive users .... on another negative can decree a verdict. The individual user can not make the difference

salterious

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The revolutionary Export system/One-click Export

It is a vicious circle but you are never going to end the cycle of scamming. As long as one person falls for it and somebody benefits word of mouth will reach other people and more people will try scams. They say hooking is the oldest profession, I don't know I may be inclined to thinking scamming is one of the oldest professions too which sucks Embarrassed

yrrehc16

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Quote from: Imfinnabeon on February 06, 2018, 12:28:27 PM

Wow thanks for bringing that up and now that I think about it I went in on a token similar to this one without giving it much thought. They were a well established company in real life but no blockchain experience and that was my mistake getting involved like that. Keep up the awesome work we need more heroes like you! Kiss

crypto is full of surprises. never get it to your nerves. always think twice or more before getting into it.
scam is just for the people who jump into the hype and we should prevent that.
if you want to have a great deal and don't wanna go the wrong way kindly get into it.
read your self, make a research. that is the way we can survive thing and no to SCAM!

miktam

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Quote from: Notin2 on February 14, 2018, 03:59:08 AM

Quote from: miktam on February 13, 2018, 05:22:28 AM

Quote from: Notin2 on February 13, 2018, 04:49:19 AM

this is a very serious situation that needs urgent solution, most project now take the advantage of the fact that blockchain is a decentralized platform and no regulations whatsoever to scam and cheat gullible investors,

if investors can be required to go through kyc before participating in most ico's, same should be equally required from any ico project, there should be some form of ico regulatory bodies that can conduct a proper background check on the founders and dev team of any ico, they must past through some certain requirement in other to conduct there ico's, too many scam project in the market.

in case of Equi, we use custodial account approach, as described in ANN thread. Its simply not possible even to sell your private keys. So there is a gateway to get in, ensuring that everything is according to the law.

this is I believe the part where decentralized tech and current regulations are not fully compatible.
hence custodial account approach used in Equi.

will be grateful to hear constructive criticism towards this project.

if you are actually the Head of Development @Equi, then you should do more by given proper details with relevant evidence to counter what is been said by the OP of this thread, i would also like see more constructive criticism towards Equi project from fellow posters on this thread, this whole discussion was as a result of @op stating Equi project can not justify their use case. Hope to see reasons why this project should be trusted.

Quote

The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

1) Re not answering to criticism - let's fix it now then!
As an alternative channel (and our main one) you could ask anything on Telegram https://t.me/equicapital
Also, we will have AMA on Reddit on Feb 20th, more info https://medium.com/equi-capital/ama-with-equi-founder-doug-barrowman-2c292988815f

2) Re Howie test: tokenization of VC services is an uncharted territory. Sailing there under 71-old Howie test is as much as exciting as challenging. There is no clear understanding how blockchain based tech will fit current legal system (check ie https://www.coindesk.com/every-token-snowflake-secs-ico-guidance-isnt-enough/)

3) Re using the proceeds, we consider 4 different scenarios, please check https://www.dropbox.com/s/0i8cbgmyl0sw7jp/EQUI%20-%20Funding%20Distribution.pdf?dl=0

Sled

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Bitcoin- in bullish time

Quote from: crypt0heaven on February 14, 2018, 03:07:53 AM

How about the biggest scam of them all bitcoin.com lol. roger ver misleading a lot of new people, this guy seriously needs to be shut down. Such a pathetic person.

Let that Roger Ver do his thing because that is his way of doing business and we can just mind our own business, if we can't directly shutdown him, we can still help by educating and enlightening the other people, mostly the newbies which they will know where is the real bitcoin and not and who is the scammer. So just become helpful to the people who are getting started and educate them.

Notin2

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Activity: 630

Merit: 253

Quote from: miktam on February 13, 2018, 05:22:28 AM

Quote from: Notin2 on February 13, 2018, 04:49:19 AM

this is a very serious situation that needs urgent solution, most project now take the advantage of the fact that blockchain is a decentralized platform and no regulations whatsoever to scam and cheat gullible investors,

if investors can be required to go through kyc before participating in most ico's, same should be equally required from any ico project, there should be some form of ico regulatory bodies that can conduct a proper background check on the founders and dev team of any ico, they must past through some certain requirement in other to conduct there ico's, too many scam project in the market.

in case of Equi, we use custodial account approach, as described in ANN thread. Its simply not possible even to sell your private keys. So there is a gateway to get in, ensuring that everything is according to the law.

this is I believe the part where decentralized tech and current regulations are not fully compatible.
hence custodial account approach used in Equi.

will be grateful to hear constructive criticism towards this project.

if you are actually the Head of Development @Equi, then you should do more by given proper details with relevant evidence to counter what is been said by the OP of this thread, i would also like see more constructive criticism towards Equi project from fellow posters on this thread, this whole discussion was as a result of @op stating Equi project can not justify their use case. Hope to see reasons why this project should be trusted.

crypt0heaven

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Activity: 182

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How about the biggest scam of them all bitcoin.com lol. roger ver misleading a lot of new people, this guy seriously needs to be shut down. Such a pathetic person.

nelsledma

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Activity: 572

Merit: 250

Quote from: Smarty14392 on February 09, 2018, 02:47:28 AM

Quote from: justin86 on February 06, 2018, 01:20:14 PM

I agree with you, I think ico concept need to be regulated, and people should understand fully what they are investing in, I think project might be legit but there may be an exit scam when token rises a lot.

These scams would never come to an end. Reason is only the lack of proper research from a person who is going to invest in some coin. Like if someone is investing in bitcoins, there are different methods of earning. Trading, investing, campaigning, associating with ICOs and much other. Scam always found in voids that are easy to target and it seems only when illiterate people are playing the game with bitcoins.

The thing is we cannot do anything in order to eliminate this scam and the people who are busy in doing scams and fraud no matter how much efforts and hard work we put in. the only thing which we can do is to keep ourselves away from such kind of people so that we may not fall victim of their fraud. Moreover, we also need to spread the awareness regarding such kind of activities amongst others too so that they may also save their money.

scamX

newbie

Activity: 9

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To be honest every other community or market has one or two scammers lurking around. It's just that the best way to avoid them is to educate people. People used to fall for the nigerian prince scam or a hot girl skype scam but nowadays its really hard to hear one of these kind of things to happen. So Basically once general adoption occured even people who has zero to none knowledge would be able to identify a cheap scam.

cizatext

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Activity: 952

Merit: 41

This is a good step, many people fall to scam due to lack of understanding of the details and functionality of a project. If an ICO promised that they token is going to be certain amount at a particular time know that it's a scam ICO because no project can predict it future at the start knowing fully well how volatile the cryptocurrency market is.

Ewinsane

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Quote from: PalmerLaura on February 09, 2018, 07:48:26 AM

A good idea might be creating some kind of portal where people can discuss different ICOs and vote is it a scam or not. I saw the thread of bitcoinwiki org here on forum and they say they're gonna implement smth like that on their portal

There must be enhancement in this forum. New features must be added so that it can cope up the latest requirements from traders and users. Like here, this case is also implementable. Scams are spreading like a jungle fire and people are getting effected by them. Hence they demoralize the people’s interest toward bitcoins. There must be awareness campaigns for catering such problems.

miktam

newbie

Activity: 12

Merit: 0

Quote from: Notin2 on February 13, 2018, 04:49:19 AM

this is a very serious situation that needs urgent solution, most project now take the advantage of the fact that blockchain is a decentralized platform and no regulations whatsoever to scam and cheat gullible investors,

if investors can be required to go through kyc before participating in most ico's, same should be equally required from any ico project, there should be some form of ico regulatory bodies that can conduct a proper background check on the founders and dev team of any ico, they must past through some certain requirement in other to conduct there ico's, too many scam project in the market.

in case of Equi, we use custodial account approach, as described in ANN thread. Its simply not possible even to sell your private keys. So there is a gateway to get in, ensuring that everything is according to the law.

this is I believe the part where decentralized tech and current regulations are not fully compatible.
hence custodial account approach used in Equi.

will be grateful to hear constructive criticism towards this project.

Notin2

sr. member

Activity: 630

Merit: 253

this is a very serious situation that needs urgent solution, most project now take the advantage of the fact that blockchain is a decentralized platform and no regulations whatsoever to scam and cheat gullible investors,

if investors can be required to go through kyc before participating in most ico's, same should be equally required from any ico project, there should be some form of ico regulatory bodies that can conduct a proper background check on the founders and dev team of any ico, they must past through some certain requirement in other to conduct there ico's, too many scam project in the market.

angaper

hero member

Activity: 966

Merit: 507

I think that if we start to make a serious analysis of each ICO, very few of them will be able to demonstrate its true usefulness since they cover such a wide range of products and services that many of them tend to be repetitive, or others just seem to be directed to such specialized or short-range matters that they do not seem to justify an investment as great as the one they usually seek. In fact it would be easier to list which projects are worthwhile, and they would be less than fifty.

Gaff

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Quote from: mamichula on February 12, 2018, 05:06:23 PM

These scams are not going to end, especially with all the new people getting into crypto. So people are desperate and only think about, "I'm gong to be rich." I once had someone tell me to get out of crypto because I brought up legitimate concerns about the price of something, and because I wasn't being all positive they felt that I wasn't worthy enough to blindly follow.

Well from the start scammers are really there waiting for a huge opportunity to scam their pillows .But I think at the end of the we are the one who really responsible for our security we can really secure things if we do act something in a very prudent way by means of keeping anything in a private way. I think there would be no scamers if no one will give a motive to them to scammed maybe we really need to be more carefully on our security measures.

Topic: We need to do something about all the scams - page 3. (Read 904 times)